

They do say measured in present value dollars, so technically this isn’t inflation. But it is effectively interest. The idea that social security taxes should be a 0% interest bank account is absurd. Nobody would reasonably put their retirement savings in a 0% interest bank account, even one that is inflation protected, and expect to have a successful retirement. They also fudge the numbers by looking at the median retiree and not the average retiree. Social Security is a progressive payout system, meaning those who put in the most get the least back proportionally (it could be more harshly progressive IMO, but that is a separate conversation). Meaning that in a wealth-concentrated environment like ours, social security is effectively a transfer of wealth from the richest boomers to the other boomers, but Fortune pretends that isn’t happening and chalks it all up as a transfer of wealth from millennials to boomers, which is quite disingenuous

https://www.youtube.com/watch?v=ign_vZupjno every accusation is a projection